Monthly Archives: March 2009

Mortgage backs unchanged, 10 year note unchanged, stocks up 150 on the big board, and the Naz up 43 points. We see little change ahead until Friday when the Employment Report for March will be released. Until then, we see … Continue reading →

The Fed announcement last week about an expansion of the mortgage-backed securities (MBS) purchase program pushed mortgage rates down to the lowest levels in decades, according to the weekly surveys from the Mortgage Bankers Association (MBA) and Freddie Mac. This … Continue reading →

Fast market conditions exist as the 10 year note has gone from plus 9/32’s to down 9/32’s in the last 15 minutes. Short term patterns that pointed to higher levels (rally), met their objectives and have slipped away from the … Continue reading →

Austin Energy Conservation Audit and Disclosure Ordinance, Frequently Asked Questions. What is the Austin Energy Ordinance? What properties are effected by the new Austin Energy Audit Ordinance? Why was the new Austin Energy Ordinance passed? When does the Energy Ordinance take effect in Austin, TX? What do Austin homeowners need to do to meet the Austin Energy Ordinance requirements? Are there exemptions to the Austin Energy requirement? Continue reading →

Although the Fed has been in buying the long end of the curve (10 year note/30 year bond), their bid has faded. Currently, the 10 year note is off 37/32’s, trading at a yield of 2.79%. The bond is off … Continue reading →

Treasury traders have had to be quick as a cat , sidestepping the land mines such as China, Fed, Treasury, Capitol Hill, 98 billion in auction paper this week, and Barney Frank lifting their wallet. Less than a week a … Continue reading →

Lots to talk about on this Monday morning. Overseas, it appears as if Treasury Secretary Geithner smoozed the Chinese, helping to smooth relations with their ongoing appetite for Uncle Sam’s debt. China came out endorsing the continued purchase of Treasuries … Continue reading →

Market wise, we see this as a period of consolidation, one that is more about fatigue. So much has been going on with TARP, TALF, AIG, FOMC, and U and ME that the market is simply wore out. Given the firepower the Fed is willing to throw at the market via Quantitative Easing, we would not expect to see mortgage rates rise much further. We are however very close to a worsening price change. Continue reading →

Thanks to a Fed announcement (see below) which exceeded all expectations, it was a big week for mortgage markets. Mortgage rates ended the week down significantly, falling near the lows reached in January. The stock market and Treasury market also … Continue reading →

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